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Purpose: The paper aims to relook at the notion of competitiveness in the challenging times of pandemic. The failure of global value chains caused many nations despite their state of economic development to struggle for necessary items. The goal of achieving profitability abated by having self-sufficiency, specifically in the manufacturing sector where unlike services, the production processes jolted. Under this backdrop, the paper attempts to project local industry clusters as a panacea for achieving resilient competitiveness. Design/methodology/approach: To explore the credibility of clusters as an important tool to prepare nations towards a resilient future, a correlation between the state of cluster development in a country and its national competitiveness has been tested. Besides, any difference in the notion of state of cluster development between least developing countries, developing countries and developed countries has also been tested. The paper uses the data from World Economic Forum's Global Competitiveness Report. Findings: Strong support for the research hypothesis has been found. High positive correlation exists between the state of cluster development and national competitiveness. The state of cluster development is found to be significantly different among three categories of countries. Originality/value: Clusters have been promoted in academic literature, policy circles and the business community for many advantages. This paper is a novice attempt to showcase these can serve as an instrument to prepare economies for self-sufficiency and a resilient future by performing an objective evaluation. [ABSTRACT FROM AUTHOR]

Purpose: The development in information communication and technology (ICT) has led to many changes such as reorganization of economics, globalization and trade. With more innovation processes being organized and adopted across technologies, trade, etc., these are getting more closely related and needs fresh research perspective. This study aims to empirically investigate the interrelationship between ICT penetration, innovation, trade and economic growth in 20 developed and developing nations from 1995 to 2018. Design/methodology/approach: The present paper examines both long-run and short-run relationships between the four variables, namely, innovation, ICT penetration, trade and economic growth, by applying panel estimation techniques of regression and vector error correction model. ICT penetration and innovation indices are constructed using principle component analysis technique. Findings: The findings of the study highlight that for developed nations, growth, trade and innovation are significantly interlinked with no significant role of ICT penetration While for developing nations, significant relationship is present between growth and trade, ICT penetration and innovation. With respect to trade, in case of developed nations, significant relationship is present with ICT penetration. While for developing nations there is no significant result for trade promotion. On further employing the vector error correction model, the presence of short run causality between growth, trade and innovation in case of developed nations is established but no such causality between variables for developing nations is seen. Originality/value: The present paper adds to the existing strand of literature examining interlinkage between innovation and growth by introducing new variables of ICT penetration and innovation. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the relationship between sustainability reporting and bank performance after financial crisis in developed and developing countries. Design/methodology/approach: This study examines 882 banks from developed and developing countries covering 11 years after the 2008 financial crisis. The independent variable is environmental, social and governance (ESG) scores. The dependent variables are return on assets, return on equity and Tobin's Q. This study uses bank- and country-specific control variables to measure the relationship between sustainability reporting and bank performance. Findings: The findings deduced from the empirical results demonstrate that ESG improves banks' accounting and market-based performance in developed countries, supporting value creation theory. Using pooling regression and instrumental variable – generalized method of moments, this study finds that ESG weakens banks' performance in developed and developing countries. Originality/value: To the best of the author's knowledge, this is the first study to investigate and compare the impact of sustainability reporting on banks' performance in developed and developing countries. The study found similarities in the impact of sustainability reporting and the improvement of banks' current and future performance. [ABSTRACT FROM AUTHOR]